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'description' => 'Following up on the recent agreement between U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida to strengthen defense cooperation, the United States and Japan will convene next month the first Forum on Defense, Industrial Cooperation, Acquisition, and Sustainment (DICAS) wherein they will identify the priorities to boost their partnership.',
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'content' => '<p>Following up on the recent agreement between U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida to strengthen defense cooperation, the United States and Japan will convene next month the first Forum on Defense, Industrial Cooperation, Acquisition, and Sustainment (DICAS) wherein they will identify the priorities to boost their partnership.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-8-Defense-Forum.jpg" alt="" />
<figcaption class="image-caption">American and Japanese soldiers during a joint defense exercise. (Photo source: Council of Foreign Relations)</figcaption>
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<p>The two-day event will feature discussions between <strong>William LaPlante</strong>, U.S. undersecretary of Defense for Acquisition and Sustainment, and <strong>Masaki Fukasawa</strong>, Commissioner of Japan’s Acquisition, Technology and Logistics Agency, on how to increase the current co-production capacity of Patriot surface-to-air-missiles and future co-development of common jet trainers.</p>
<p>Currently, Japan’s Mitsubishi Heavy Industries has a licensing agreement with U.S. defense contractor Raytheon to manufacture Patriot missiles. Following the amendment of its defense export guidelines last December, Tokyo is also working on replenishing U.S. stockpiles of these missiles.</p>
<p>On the second day, both sides will launch the Ship Repair Council, a meeting focused on the short-term maintenance of U.S. Navy ships located in Japanese shipyards. Post-Cold War, Japan became a crucial hub for maintaining U.S. Navy ships because many American shipyards had closed and the remaining ones faced huge backlogs in repairs.</p>
<p>Integrating industrial bases with Japan is particularly important for the United States because of supply shortages stemming from its financial and weapon commitments in the Ukraine-Russia war and the recent conflict between Israel and Hamas.</p>
<p>The DICAS meeting is expected to result in an increase in missile production by Japan to support U.S. commitments.</p>',
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'content' => '<p>Promoting ESG investments can be more than just selecting projects with existing environmental and social goals. This is especially true in emerging markets, where understanding of ESG compliance can be limited for local businesses.</p>
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<figcaption class="image-caption">IDI and ID Capital PLC Chairman Hor SereyVath</figcaption>
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<p>In Cambodia, an organization has elevated ESG standards so that they create a powerful double win: greater social and economic impact and increased attractiveness to foreign investors.</p>
<p><strong>ID Capital</strong>, a part of Cambodia’s Innovation and Development Investors Association (IDI), exemplifies this approach. It fosters an entrepreneurship ecosystem by nurturing projects contributing to regional economic development and empowering local businesses.</p>
<p>“We founded IDI during COVID to support local businesses and individuals impacted by the pandemic. As investors and businesspeople, we felt responsible to back businesses with strong community impact potential,” <strong>IDI and ID Capital PLC Chairman Hor SereyVath </strong>told GMI POST.</p>
<p> </p>
<p><span style="font-size: 18pt;"><strong><span style="font-family: helvetica;">Beyond funding: Building ESG-ready businesses</span> </strong></span></p>
<p> </p>
<p>Since its founding, ID Capital has supported over 90 projects in diverse sectors, like agriculture, education, finance, healthcare, and real estate, contributing to Cambodia’s major investment markets. What sets ID Capital apart is its focus on partnership, not just investment. </p>
<p>“Many homegrown Cambodian businesses lack an international perspective. This limits their potential and makes them less attractive to foreign investors. ID capital steps in as a partner, providing expertise in managing capital and achieving ESG compliance, which is a key factor for attracting overseas investors,” SereyVath said.</p>
<p><strong> </strong></p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Building trust with transparency</strong></span></p>
<p> </p>
<p>ID Capital’s commitment extends beyond its projects. It advocates for responsible investment from its partners, primarily foreign investors, ensuring their funds go towards impactful ventures. To achieve this, they tackle ‘information asymmetry’.</p>
<p>“Many foreign investors have limited or biased information about Cambodia’s investment landscape. We bridge the gap by conducting due diligence and providing consolidated information. This builds trust with our partners, setting us apart in the market.” ServeyVeth said.</p>
<p>By building bridges and fostering responsible investment, ID Capital has proven that ESG is a win-win for both businesses and investors.</p>',
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'description' => 'A trailblazer in sustainability assurance, Enveritas is transforming the coffee and cocoa sectors by providing comprehensive insights into the social, economic, and environmental practices of smallholder farms. ',
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'url' => 'enveritas-pioneering-sustainable-practices-in-coffee-and-cocoa-farming',
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'content' => '<p>A trailblazer in sustainability assurance, <strong>Enveritas </strong>is transforming the coffee and cocoa sectors by providing comprehensive insights into the social, economic, and environmental practices of smallholder farms.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-7-NYNJ-Enveritas-CEO-David-Browning.jpg" alt="" />
<figcaption class="image-caption">Enveritas CEO David Browning</figcaption>
</figure>
<p>Each year, Enveritas visits over 100,000 farms across more than 30 countries in Asia, Africa, and Latin America, allowing them to capture a detailed picture of the conditions and challenges faced by farmers around the world.</p>
<p>The organization collaborates with leading coffee roasters and chocolate companies, assessing and understanding the sustainability issues within their supply chains based on Enveritas' rigorous standards. Notably, the companies shoulder the costs of these assessments and not the farmers. This inclusive approach enables small farmers to access sustainability-based export markets, from which they might otherwise be excluded.</p>
<p>Enveritas awards a responsible sourcing claim to companies that meet three critical steps: verification of purchases and traceability; annual sustainability assessments of sourcing areas; and continuous improvement investments proportional to the company’s purchases.</p>
<p>“Around 2016, we were able to unlock new abilities to help understand what was happening on the ground and help farmers with satellite imagery. That was coupled with the evolution of deep learning,” he said. <strong>Enveritas CEO David Browning </strong>told GMI POST.</p>
<p>According to the CEO, the new technology has enabled local producers to increase production at far lower cost and far higher quality, while observing sustainability practices.</p>
<p>“This is how we re-engineered sustainability assurance and truly leverage technology to help farmers on the ground,” Browning said.</p>
<p>"Our goal is to eliminate poverty in the coffee sector by 2030. There's about 12.5 million coffee farmers in the world and about half of those farms have an income below the poverty line,” he added.<br /><br />Enveritas helps these farmers by providing tech support that improves their productivity and training them on basic regenerative agricultural practices, like mulching and pruning.</p>',
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'id' => '545721',
'title' => 'Singapore and China want closer partnerships in sustainability',
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'description' => 'During the 2nd China-Singapore Green Finance Taskforce meeting last month, the Monetary Authority of Singapore (MAS) and People's Bank of China (PBC) discussed initiatives to advance cooperation in green and transition finance between their two countries.',
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'content' => '<p>During the 2nd China-Singapore Green Finance Taskforce meeting last month, the <strong>Monetary Authority of Singapore (MAS)</strong> and <strong>People’s Bank of China (PBC)</strong> discussed initiatives to advance cooperation in green and transition finance between their two countries.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-7-SG-Monetary-Authority-Gillian-Tan-Chief-Sustainability-Officer.jpg" alt="" />
<figcaption class="image-caption">Monetary Authority of Singapore Chief Sustainability Office Gillian Tan</figcaption>
</figure>
<p>The initiatives discussed covered the alignment of taxonomies, facilitation of green finance flows, and the development of a decarbonization rating platform.</p>
<p>The two sides also discussed emerging areas of interest, including nature and biodiversity, ESG data model interoperability, and the use of AI and advanced data analytics to facilitate the collection, access and optimization of high-quality ESG data to drive green efforts.</p>
<p>According to a statement to local media, <strong>MAS Chief Sustainability Office Gillian Tan, </strong>who co-chairs the task force with China Green Finance Committee Chair Dr. Jun Ma, said: “The GFTF is a key platform for China and Singapore to jointly develop concrete and meaningful initiatives to advance green finance cooperation.”</p>
<p>“The wide range of deliverables announced today is a testament to the strong collaboration between MAS, PBC, and industry partners from both countries and our shared ambition to mobilize the financing required for an effective transition to net zero in the region,” Tan added.</p>',
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'id' => '545716',
'title' => 'Texan judge heads economic delegation to Japan ',
'description_old' => null,
'description' => 'Bexar County Judge Peter Sakai led a five-day working visit to Japan last month to meet with companies that could relocate their businesses or expand their operations into the San Antonio region.
',
'credit_id' => '48',
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'url' => 'texan-judge-heads-economic-delegation-to-japan',
'tags' => 'US, Japan, Texas, Economic Development',
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'content' => '<p><strong>Bexar County Judge Peter Sakai </strong>led a five-day working visit to Japan last month to meet with companies that could relocate their businesses or expand their operations into the San Antonio region.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-7-TX-Bexar-County.jpg" alt="" />
<figcaption class="image-caption">Bexar County Judge Peter Sakai (Photo source: The San Antonio Report)</figcaption>
</figure>
<p>“We have a couple of Japanese businesses that are proposing to come in immediately, so I will pay them a visit,” Sakai told the local San Antonio Report before leaving the United States.</p>
<p>Japanese companies, according to data from <strong>Texas Economic Development</strong> reported 119 investment projects, $6.9 billion in capital investment, and 19,620 new jobs created by 96 companies over the last decade.</p>
<p>Bexar County, the largest county in San Antonio, is home to over 1,700 Japanese and Japanese-American citizens and more than 12 Japanese multinational corporations.</p>
<p>“There’s a lot of discussion, and perhaps diverse opinions, as to the effectiveness of our current workforce. One of the reasons I want to go to Japan is to make sure they feel that the skill set of the labor that they’re getting satisfies their needs,” Sakai said.</p>
<p>Sakai became the first Asian American executive of Bexar County in January 2023. A second-generation Japanese American, he is the grandson of farmers who left Japan to build new lives in the United States.</p>',
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'id' => '545717',
'title' => 'Google forms solar energy partnerships for its Japan data centers',
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'description' => 'Google has partnered with two Japanese renewable energy providers, Clean Energy Connect (CEC) and Shizen Energy, to build dedicated solar farms for its data centers in the country. The power purchase agreements with the two companies mark Google's first such collaboration in Japan. ',
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'url' => 'google-forms-solar-energy-partnerships-for-its-japan-data-centers',
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'content' => '<p><strong>Google</strong> has partnered with two Japanese renewable energy providers, Clean Energy Connect (CEC) and Shizen Energy, to build dedicated solar farms for its data centers in the country. The power purchase agreements with the two companies mark Google’s first such collaborations in Japan.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-7-Google-Solar-Energy.jpg" alt="" />
<figcaption class="image-caption">Google Japan Vice President Shinji Okuyama (Photo source: Nikkei Global Management Forum</figcaption>
</figure>
<p>“The PPAs will add a total of 60 megawatts of new solar energy capacity to the Japanese grid, which will not only support Google’s data centers in the region but also align with Japan’s clean energy ambitions,” said <strong>Google Japan Vice President Shinji Okuyama.</strong></p>
<p>The agreement with CEC, a partner of Itochu Corporation and Kansai Electric Power, involves a $63.9 million (10 billion Japanese yen) investment to build a network of 800 small-scale solar plants across multiple grid regions in Japan by 2026.</p>
<p>This decentralized approach addresses the challenges of large-scale solar projects in the country with a limited availability of land.</p>
<p>Meanwhile, Shizen Energy will develop a 20-megawatt solar project to support Google’s latest data center in Inzai City, Chiba prefecture. The project is expected to be fully operational in 2027.</p>
<p>Stating the initiative was “just the beginning of Google’s decarbonization efforts in the region,” the tech giant is committed to investing around $690 million (about 100 billion Japanese yen) into expanding its sustainable infrastructure in Japan. While renewable energy accounts for 90% of Google’s power consumption in the United States, Denmark, and Finland, it only provides 16% of its Japanese operations.</p>
<p>The PPAs are expected to last between 15 to 20 years, allowing Google to estimate the accurate cost of scaling its renewable energy projects to support upcoming data centers in Hiroshima and Wakayama prefectures.</p>
<p>Google’s decarbonization efforts in Japan will be marked by ‘non-fossil certificates,’ validating the source of the energy used by its data centers. The first certificate will be used by Google’s facility in Chiba Prefecture, Tokyo.</p>',
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'id' => '545718',
'title' => 'U.S. group to acquire KFC Japan for $835 million',
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'description' => 'U.S. private equity group Carlyle Group Inc. has announced its intention to take over KFC Holdings Japan, the operator of KFC restaurants in the country, for around $835 million (130 billion Japanese yen).',
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'url' => 'us-group-to-acquire-kfc-japan-for-835-million',
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'content' => '<p>U.S. private equity group <strong>Carlyle Group Inc.</strong> has announced its intention to take over KFC Holdings Japan, the operator of KFC restaurants in the country, for around $835 million (130 billion Japanese yen).</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-7-Carlyle-KFC.jpg" alt="" />
<figcaption class="image-caption">KFC is part of a popular tradition among Japanese during Christmas. (Photo source: CNN)</figcaption>
</figure>
<p>Carlyle will initiate a tender offer for the Tokyo-listed company at 6,500 Japanese yen per share, representing roughly a 20% premium over the stock’s most recent closing price of 5,400 yen. If successful, the acquisition will mark the exit of Mitsubishi Corp., which is backed by Berkshire Hathaway and currently holds a 35% stake in KFC Japan.</p>
<p>KFC Japan has expressed its support for Carlyle's offer, which first appeared in the national business paper Nikkei in April. The tender period will run until July 9 and Carlyle is set to acquire Mitsubishi's stake as soon as September in a transaction estimated to reach $257.6 million (40 billion Japanese yen).</p>
<p>Carlyle’s goal is to broaden KFC Japan's menu by introducing more lunch and afternoon items.</p>
<p>For the fiscal year ending March 2024, KFC Japan reported an 11% increase in group sales to $712.3 million (110.6 billion Japanese yen) and a 62% surge in operating profit to $37.4 million (5.8 billion Japanese yen).</p>
<p>Mitsubishi introduced KFC to Japan in 1970 as a joint venture with the U.S. chain. In 2007, it increased its stake to more 60%, thus becoming the parent company, before reducing its holdings in 2015 as part of its plan to improve capital efficiency.</p>
<p>Carlyle has a notable history in the restaurant sector in Asia. It manages the McDonald's and Dunkin' Donuts chains located in China. In Japan, it took pub style <em>izakaya</em> operator Chimney private and relisted it in 2012.</p>',
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'id' => '545713',
'title' => '3 tips for startup founders in emerging markets',
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'description' => 'A key element in Cambodia's five-pronged long-term development plan is the strengthening of the country's digital economy by expanding connectivity, broadening digital payment systems, and facilitating last-mile logistics services, among other steps. ',
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'url' => '3-tips-for-startup-founders-in-emerging-markets',
'tags' => 'Cambodia, Startups',
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'content' => '<p>A key element in Cambodia’s five-pronged long-term development plan is the strengthening of the country’s digital economy by expanding connectivity, broadening digital payment systems, and facilitating last-mile logistics services, among other steps.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-6-CAMB-Startups.jpg" alt="" />
<figcaption class="image-caption">Home to around 600 tech startups, Cambodia is quickly becoming a popular destination for startup investments.</figcaption>
</figure>
<p>Internet penetration among the youth, who make up most of the population, is robust at 85%, creating a wealth of opportunities for digital products and services.</p>
<p>The present situation has given startups an advantage over traditional businesses in terms of scalability, efficiency, and quick adaptability to shifting market trends. By embracing digital transformation from the outset, new organizations can streamline workflows by automating tasks, strategizing supply chain effectively, and developing new growth models.</p>
<p>Startups often worry about the cost of new embracing technologies. But, the beauty of digital transformation is that it doesn’t have to be expensive.</p>
<p>Here are three ways startups in emerging markets can adapt digital transformation without breaking the bank:</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Innovate with your target consumer from the get-go</strong></span></p>
<p> </p>
<p>Invite possible users of your solution to collaborate during the strategy’s conception, evaluation, and development stages. Known as “co-creation,” the process involves using customer input throughout the product development cycle. The best innovations respond to customers’ needs identified through this collaborative process. By doing this, startups avoid the temptation of creating solutions simply because they are popular.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Design a scalable and adaptable business model</strong></span></p>
<p> </p>
<p>Startups should continually evaluate if their business model is scalable and adaptable to sudden changes in the market. Workflows should be optimized for unexpected increases in demand, and reliance on manual resources should be minimized in case of supply issues.</p>
<p>Organizations must consider their ability to respond quickly to external opportunities and threats. An integral part of digital transformation is using technology to innovate business models and be ready for any changes.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Empower your team with the tech they need, not the tech you want</strong></span></p>
<p> </p>
<p>Simply adopting the latest technology for the sake of having it is not digital transformation. Does your team need an AI-powered CRM? Will installing an automated time-tracking software help with their productivity?</p>
<p>Startup founders need to think about the problems their teams face before introducing any new technology. Doing so will foster a culture where creativity, trust, and collaboration are welcomed. Start by assessing their challenges and pain points to identify areas for innovation.</p>',
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'id' => '545714',
'title' => 'Breeding unicorns: A look into Singapore's thriving startup scene',
'description_old' => null,
'description' => 'Dubbed the "Silicon Valley of Asia", Singapore has developed a startup ecosystem that has outshined its Southeast Asian neighbors, closing last year with a total deal volume of $6.1 billion. Of the world's top 100 tech firms, 80 have selected the Lion City as their home.',
'credit_id' => '48',
'image' => null,
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'url' => 'breeding-unicorns-a-look-into-singapores-thriving-startup-scene',
'tags' => 'Singapore, Startups',
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'content' => '<p>Dubbed the “Silicon Valley of Asia”, Singapore has developed a startup ecosystem that has outshined its Southeast Asian neighbors, closing last year with a total deal volume of $6.1 billion. Of the world’s top 100 tech firms, 80 have selected the Lion City as their home.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-6-SG-Unicorns.jpg" alt="" />
<figcaption class="image-caption">Singapore proves to be an attractive hub for high-quality startups.</figcaption>
</figure>
<p>Singapore’s startup success is built on the government’s robust support and its global reputation for efficient governance, strict rule of law, highly-skilled labor, and top-quality educational system.</p>
<p>According to the Economic Development Board of Singapore, the city-state’s startup ecosystem ranked 17th globally and 5th in Asia in terms of value, growing to an impressive $22.5 billion as compared to the global average of $13.68 billion.</p>
<p>Development Asia, a platform run by the Asian Development Bank, identified the following elements behind Singapore’s vibrant entrepreneurial ecosystem: (1) startup financing, (2) sound regulatory and legal environment, (3) low corporate tax rates, (4) mentorship and network opportunities, and (5) innovative public policy.</p>
<p>Singapore’s effective private and public sector framework has supported not only venture capitalists and tech startups, but also its manufacturing industry.</p>
<p>Among those who have benefitted from Singapore’s innovation-driven development are SP Manufacturing and CAM Resources, which have developed state-of-the-art equipment and solutions to meet the demands of startups.</p>',
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'section_summary' => 'Dubbed the "Silicon Valley of Asia", Singapore has developed a startup ecosystem that has outshined its Southeast Asian neighbors, closing last year with a total deal volume of $6.1 billion. Of the world's top 100 tech firms, 80 have selected the Lion City as their home.',
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'id' => '545715',
'title' => 'This NY-based tech startup can give renters their dream home',
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'description' => 'Named one of Forbes' 30-Under-30 in 2015, American entrepreneur and investor Ankur Jain established his global reputation as a co-founder of Humin, an app that was later acquired by Tinder. Today, the 32-year-old oversees Bilt Rewards, the first-ever loyalty program that awards points to users for their rental payments and neighborhood spending.',
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'content' => '<p>Named one of Forbes’ 30-Under-30 in 2015, American entrepreneur and investor <strong>Ankur Jain</strong> established his global reputation as a co-founder of Humin, an app that was later acquired by Tinder. Today, the 32-year-old oversees <strong>Bilt Rewards</strong>, the first-ever loyalty program that awards points to users for their rental payments and neighborhood spending.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-6-NYNJ-Bilt-Rewards-Ankur-Jain-Founder-and-CEO.jpg" alt="" />
<figcaption class="image-caption">Bilt Rewards Founder and CEO Ankur Jain</figcaption>
</figure>
<p>Seeing the financial challenges of renters living in New York, Jain wanted to create a pathway for them to eventually become homeowners.</p>
<p>“The idea that you rent for many years but get no closer to homeownership made no sense,” the Bilt Rewards founder and CEO told INC. magazine.</p>
<p>Launched in June 2021, Bilt Rewards boasts one of the highest-value rewards programs in the market today, offering one-to-one point transfers across more than 100 major airline and hotel partners. The program also includes fitness studios and exclusive, limited-edition artworks and home decor through the Bilt Collection. Earned points can be used towards rental payments or a downpayment on a future home .</p>
<p>Bilt partnered with Mastercard and Wells Fargo to create the Bilt Mastercard, the first and only credit card that can be used to pay rent with no fees charged.</p>
<p>“In 2022, we announced a valuation of $1.5 billion following a $150 million growth round to advance our loyalty program and credit card for renters,” he said.</p>
<p>Reflecting on his professional history, Jain advises fellow entrepreneurs to persist through setbacks, citing Bilt's success in securing partnerships with major landlord groups like AvalonBay Communities and Related Companies.</p>
<p>“We've created something that benefits everyone involved. It's about turning everyday transactions into meaningful opportunities for financial growth and stability,” said Jain, who is focused on expanding Bilt’s coverage and further empowering renters across the United States.</p>',
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'title' => 'Texas city launches investment plan to revive historic downtown area',
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'description' => 'Forming part of the Dallas-Fort Worth metro area, the Frisco Economic Development Corp. (Frisco EDC) has announced a pilot investment program to support the redevelopment of the city's historic Rail District in the downtown area. The program will reimburse 50% of the approved costs of qualified projects upon their completion. ',
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'content' => '<p>Forming part of the Dallas-Fort Worth metro area, the <strong>Frisco Economic Development Corp.</strong> <strong>(Frisco EDC)</strong> has announced a pilot investment program to support the redevelopment of the city’s historic Rail District in the downtown area. The program will reimburse 50% of the approved costs of qualified projects upon their completion.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-6-Frisco-TX.jpg" alt="" />
<figcaption class="image-caption">Frisco has launched an ambitious program to generate its historic downtown area.</figcaption>
</figure>
<p>To qualify for this incentive, projects must be Type-A improvement projects within Frisco’s Rail District and focus on the improvement and beautification of the area, such as streetscapes, interior infrastructure, sprinkler systems, roofing, flooring, HVAC systems, and facade enhancements (i.e. canopies, signage, and awnings).</p>
<p>This initiative aims to assist local businesses and property owners, as well as complement Frisco EDC’s ongoing investments to enhance the city’s tourism and commercial value.</p>
<p>To date, the Frisco EDC board has earmarked $3.9 million for the first phase of the project due to begin in August. The initial round of improvements will involve burying overhead electrical lines, carrying out flatwork infrastructure, and installing grease traps and trash compactor systems around the city.</p>
<p>“We are proud to launch an initiative that supports local businesses and advances the city’s priority to attract both the daytime and nighttime economy,” said <strong>Frisco EDC Chair Jason Dudle</strong>.</p>
<p>Meanwhile, <strong>Mayor Jeff Cheney</strong> stressed the program’s importance in attracting more visitors.</p>
<p>“Frisco EDC’s program directly supports our city council’s goal to revitalize downtown Frisco. With more than $68 million approved by voters for redevelopment projects, we are poised to make Frisco a strong tourism destination,” he said.</p>
<p>According to <strong>Frisco EDC Vice President Gloria Salinas</strong>, the city was named one of the most resilient cities in the United States. Salinas told GMI POST in an interview that the region’s diverse industry base, pro-innovation administration, and forward-thinking policies were key factors in making Frisco very attractive to families and corporations alike.</p>',
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'title' => 'Japanese insurance giant acquires large stake in U.S. rival',
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'description' => 'Nippon Life Insurance has agreed to buy a 20% stake in Texas-based life insurance provider Corebridge Financial for more than $3.8 billion, representing its full-fledged entry into the American market amid declining demand in Japan. ',
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'content' => '<p><strong>Nippon Life Insurance</strong> has agreed to buy a 20% stake in Texas-based life insurance provider Corebridge Financial for more than $3.8 billion, representing its full-fledged entry into the American market amid declining demand in Japan.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-6-Nippon-Life-Managing-Executive-Officer-Minoru-Kimura.jpg" alt="" />
<figcaption class="image-caption">Nippon Life Insurance Managing Executive Officer Minoru Kimura</figcaption>
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<p>The move is the largest acquisition made by a Japanese insurer, according to Nikkei Asia.</p>
<p>Nippon Life expects its core operating profit to increase by $580 million annually because of this investment. At present, Corebridge Financial ranks third in the annuities market.</p>
<p>“We need to pursue further growth overseas. There are still many opportunities,” <strong>Nippon Life Insurance Managing Executive Officer Minoru Kimura</strong> told the media. <br />Kimura also said Nippon Life will look for more potential acquisitions in Europe and across Asia-Pacific, adding there were fewer opportunities in those regions than in the US.</p>
<p>In 2016, Nippon Life bought National Australia Bank Ltd.’s life insurance unit for around $1.5 billion. However, the Japanese company was forced to make multiple capital infusions to support the unit after suffering losses following the acquisition.</p>
<p>Kimura added that securing qualified personnel will be Nippon Life’s new challenge as it pursues overseas expansion.</p>
<p>“We are a very domestic company. We will boost human resources necessary for global businesses, like by hiring outside talent, including non-Japanese people,” he said.</p>',
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'description' => 'Tenstorrent CEO Jim Keller, who worked for Intel, AMD and Tesla, said in an interview with Nikkei Asia that he wants to lower the price of AI applications by designing chips that are more efficient than Nvidia's and, in the process, end the American giant's global market dominance.',
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'content' => '<p><strong>Tenstorrent CEO Jim Keller</strong>, who worked for Intel, AMD and Tesla, said in an interview with Nikkei Asia that he wants to lower the price of AI applications by designing chips that are more efficient than Nvidia's and, in the process, end the American giant’s global market dominance.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-13-Tenstorrent.jpg" alt="" />
<figcaption class="image-caption">Tenstorrent CEO Jim Keller (Photo source: Tenstorrent)</figcaption>
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<p>Headquartered in Toronto, Tenstorrent has offices in Austin, Texas and Santa Clara, California, as well as in Belgrade, Tokyo, Bangalore, and Seoul. The company claims to be developing AI processors that perform as efficiently as Nvidia's AI GPUs but at a lower cost.</p>
<p>At present, Nvidia is the global market leader when it comes to AI chips. Its AI accelerators command between 70% and 95% of the global market share, according to CNBC.</p>
<p>Keller also said in the interview that Tenstorrent hopes to sell its second-generation multipurpose AI chip by the end of this year.</p>
<p>According to Keller, Tenstorrent can achieve its objective because it does not use high-bandwidth memory (HBM), a popular type of advanced memory chip capable of transferring large amounts of data quickly. HBM is a vital component for generative AI chips and has played a significant role in the success of Nvidia's offerings.</p>
<p>But Keller pointed out that HBM was also one of the culprits behind the massive energy consumption and high prices of AI chips.</p>
<p>"Even the people that use HBM struggle with the cost of it, [and] the design time to build it,” he said.</p>
<p>By doing away with HBM, Tenstorrent will design a chip that can replace both GPUs and HBMs in some areas of AI development, adding that its new product will be "as cost-effective as possible".</p>',
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'content' => '<p>Tokyo-based trading giant <strong>ITOCHU</strong> secured a contract to develop and test AI systems that will help run the transportation network and energy infrastructure of a future smart city project in southern Taiwan, according to a company press release.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-13-ITOCHU-Taiwan.jpg" alt="" />
<figcaption class="image-caption">ITOCHU plans to roll out AI-powered buses for Taiwan's new smart city project in Tainan. (Photo source: Nikkei Asia)</figcaption>
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<p>ITOCHU outbid other parties interested in the Integrated Development Project for Shalun Smart Green Energy Science City located in Tainan. The early-stage contract, according to Nikkei Asia, is worth around $332,000 (10.8 million New Taiwan dollars).</p>
<p>According to ITOCHU, the goal is to test its AI systems on a trial basis by the end of October. This is the first time the trading house has officially participated in an overseas smart city project.</p>
<p>The Taiwanese government also announced plans to earmark an additional $306.9 million (or 10 billion NTD) to develop the country’s artificial intelligence (AI) industry. In line with this goal, ITOCHU will collaborate with various Taiwanese partners, including IT company Accton Technology and National Cheng Kung University.</p>
<p>Home to the world's largest semiconductor maker, Taiwan Semiconductor Manufacturing Company (TSMC), Taiwan has a global market share of 61.7%. CNN estimates that TSMC produces 90% of the world's super-advanced semiconductor chips, which are used to power everything from smartphones to artificial intelligence applications.</p>',
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'content' => '<p>Belgium-based supplier of semiconductor solutions <strong>Melexis</strong> has opened its largest wafer testing site worldwide in Kuching in the Malaysian state of Sarawak to strengthen its presence in Asia-Pacific and meet the rising demand for semiconductors around the world, according to a company announcement.</p>
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<figcaption class="image-caption">Melexis' new 70 million-euro facility in Kuching is a nod to the local architectural design. (Photo source: Melexis)</figcaption>
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<p>Wafer testing is part of the manufacturing process wherein all individual integrated circuits are checked for functional defects through special test patterns.</p>
<p>According to Melexis, its expansion in Malaysia is a strategic move to streamline logistics and reduce its ecological footprint. Additionally, it selected Kuching because of its diverse, multilingual, entrepreneurial and highly skilled workforce.</p>
<p><strong>Melexis CEO Marc Biron </strong>said, “With an investment of 70 million euros, this opening underscores the ambition of Melexis and will ensure future growth. With Melexis, we are at the forefront of innovation, and this opening will support us in the markets that we serve.”</p>
<p>The new four-storey building, a collaboration of award-winning Belgian architect Sebastian Mortelmans and local architectural firm DNA, covers a ground surface of 4,500 sq. m., making it the company’s largest wafer testing site worldwide. The modern design evokes local longhouse architecture, incorporates advanced energy-saving systems, like a solar installation that can generate 30.000 kWh per month, and minimizes its environmental impact.</p>
<p>“Melexis has made the right choice to invest in Sarawak. With political stability, Sarawak is business-friendly and welcomes investments that can create mutual benefits. The Sarawak government has always been very supportive of investors both foreign and domestic. It is among the most preferred destinations for investment in Malaysia,” <strong>Sarawak’s Ministry of International Trade, Industry and Investment </strong>said in a statement<strong>.</strong></p>
<p>“Sarawak possesses many comparative advantages for businesses to grow and prosper such as strategic location, availability of green energy, talented workforce, and suitable land for industrial activities,” the statement also said.</p>',
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'content' => '<p>Japanese trading giant <strong>ITOCHU</strong> announced this month it had invested in <strong>ZeroAvia</strong>, a British-American maker of hydrogen-electric engines for aircraft, according to a company statement.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-13-Itochu-ZeroAvia.jpg" alt="" />
<figcaption class="image-caption">An aircraft powered by ZeroAvia's hydrogen-electric engines (Photo source: ZeroAvia)</figcaption>
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<p>Founded in 2018, ZeroAvia describes itself as “a team of passionate innovators dedicated to bringing safe, zero-emission flight to aviation.” The company claims its hydrogen-electric propulsion systems are “the most environmentally friendly and economically attractive solution to aviation’s growing climate change impact.”</p>
<p>According to ZeroAvia, its hydrogen-electric engines cut more than 90% of harmful emissions, lower operating costs by more than 40%, improve air quality and reduce noise pollution in airport communities.</p>
<p>Under the deal, ITOCHU will serve as ZeroAvia's distributor in Asia, marking its first investment in a developer of hydrogen engines for aircraft and a further expansion into the aviation industry. ITOCHU is part of Japan Aerospace, which is involved in aircraft sales, and of JAMCO, which manufactures materials for aircraft interiors.</p>
<p>According to ITOCHU, this recent investment is part of the company’s long-term goal of helping save the planet by decarbonizing the aviation industry.</p>',
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<figcaption class="image-caption">Fairfax County Economic Development Authority President and CEO Victor Hoskins (Photo source: Fairfax County Economic Development Authority)</figcaption>
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<p>“Congratulations to Virginia on being named America’s Top State for Business in 2024 by CNBC, a record six times achieving that designation. I know that Virginia succeeds because of our shared belief that collaboration and innovation yield great results for our businesses and their employees,” said <strong>Fairfax County Economic Development Authority President and CEO Victor Hoskins</strong>.</p>
<p>Virginia ranks in the top half or better in each of the study’s 10 categories this year, “a rare feat,” noted CNBC. The state landed in the top 10 in four additional categories: infrastructure (3rd), business friendliness (5th), access to capital (8th) and workforce (9th).</p>
<p>For the first time, CNBC counted infrastructure (including the availability of shovel-ready sites) as the most important component for businesses when deciding on investment and cited the Virginia Business Ready Sites Program, as well as its world-class port, rail, roadway, and air transportation ecosystem as major contributors to the recognition.</p>
<p>CNBC’s annual ranking measures all 50 states on 128 different metrics in 10 key categories of competitiveness. North Carolina ranked second on the list, followed by Texas, Georgia and Florida.</p>
<p>Regarding Virginia’s economic relations with Japan, over $32.5 billion in capital investment has been made by Japanese companies in the last 5 years, according to the Virginia Economic Development Partnership, which also reports that Japanese companies employ more than 15,2000 people in the state.</p>',
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<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-13-FANUC.jpg" alt="" />
<figcaption class="image-caption">Michigan Gov. Gretchen Whitmer (center) with senior officers of FANUC America at its West Campus. (Photo source: FANUC America)</figcaption>
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<p>The new 650,000-square-foot facility was inaugurated on July 10 and is located in FANUC America’s West Campus in Auburn Hills, Michigan. The expansion increases the company’s footprint in Michigan to over 2 million square feet and is part of FANUC America’s plan to advance industrial automation in North America. The West Campus represents a $110 million investment built on 67 acres of land.</p>
<p>The facility, built on 270,000 square meters, has warehouse space to hold more than 6,000 robots and features automated systems for moving the robots in and out of the building, according to FANUC America.</p>
<p>"Our ongoing upward trajectory allows us to better support our customers with cutting-edge robotic and automation solutions, helping to drive more efficiency across all industries,” <strong>FANUC America CEO Michael Cicco </strong>said at the unveiling ceremony.</p>
<p>The Japanese company said it would have invested $250 million in North America since 2019 once this and other projects in its pipeline are completed. Currently, FANUC America has created over 400 jobs in Michigan.</p>',
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'description' => 'K Health, a leading AI-driven primary care company that provides 24/7 virtual primary care solutions through its mobile app, announced this month that it had raised $50 million in funding led by Claure Group with participation from investors, including Pablo Legorreta (founder and CEO of Royalty Pharma) and Mangrove Capital Partners, Valor Equity Partners, and Atreides Management.',
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'content' => '<p><strong>K Health</strong>, a leading AI-driven primary care company that provides 24/7 virtual primary care solutions through its mobile app, announced this month that it had raised $50 million in funding led by Claure Group with participation from investors, including Pablo Legorreta (founder and CEO of Royalty Pharma) and Mangrove Capital Partners, Valor Equity Partners, and Atreides Management.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-12-NYNJ-K-Health-Alan-Bloch.jpg" alt="" />
<figcaption class="image-caption">K Health founder and CEO Allon Bloch (Photo source: K Health)</figcaption>
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<p>K Health said in the same statement that it had been developing its own AI technology for more than seven years. Today, it can provide 24/7 virtual primary care solutions to millions of people in the United States.</p>
<p>The K Health platform includes clinical-grade medical chat and AI predictive models based on large datasets to help physicians optimize diagnosis and treatment and focus on patient care.</p>
<p>Instead of doctors taking patients through lengthy procedures and manually piecing together their medical history from electronic medical records, K Health allows healthcare providers to engage more quickly and closely with patients by giving them a complete medical chart with patient insights straight from the app.</p>
<p>According to K Health, this new model of care delivery achieves dramatically higher quality of care at lower costs compared to traditional primary care.</p>
<p>“K Health solves the need to make primary care visits highly personalized by giving doctors AI superpowers that enable them to practice at the top of their license. Our primary care platform offers a concierge medical experience with an assigned provider and 24/7 access to care,” explained<strong> K Health founder and CEO Allon Bloch.</strong></p>
<p>“When partnered with leading health systems, this model creates significant benefits to access, clinical outcomes, and patient experience. All you need to get care is your health insurance, a stark contrast to concierge medicine services that typically cost thousands of dollars,” Bloch added.</p>
<p>Meanwhile, <strong>Claure Group</strong> <strong>Founder and CEO Marcelo Claure </strong>said: As I invest in the AI landscape, I have found it incredibly difficult to discover companies making tangible, real-world progress with AI. K Health is the first company I've seen successfully using AI to impact millions of lives. They are addressing some of healthcare's greatest challenges by providing accessibility to faster, higher-quality, lower-cost care on a large scale."</p>',
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'description' => 'Ontario-based multinational Lee Li Holdings (LLH) CEO Lee Q. Shim told Cambodian Prime Minister Hun Manet in a meeting at the capital Phnom Penh this month that his company was looking at investment opportunities in the country, including its automotive healthcare, gas and oil, food processing and logistics, automobiles, and exports accreditation sectors.',
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<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-12-CAMB-Li-Lee-Holdings.jpg" alt="" />
<figcaption class="image-caption">Cambodia Prime Minister Hun Manet (right) met with Lee Li Holdings President and CEO Lee Q. Shim (Ieft) in Phnom Penh this month. (Photo source: Office of the Prime Minister)</figcaption>
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<p>During the meeting, Manet pointed out that the <strong>Cambodia Chamber of Commerce</strong> had two representative offices in Canada (Toronto and Montreal) that promote bilateral trade and assist exporters and importers in their two countries.</p>
<p>“Shim’s visit will further contribute to the promotion of trade relations between Cambodia and Canada,” Manet said.<br /><br />The prime minister also encouraged Shim to pursue discussions with relevant ministries and agencies, such as the Ministry of Health, the Ministry of Mines and Energy, and Ministry of Commerce, adding that his government has supported the private sector by encouraging international investment in the country.</p>
<p>Canada is one of the largest investors in Cambodia and has brought in around $1.1 billion in foreign direct investment as of 2021, Cambodian socio-economic analyst Chey Tech told The Phnom Penh Post in an interview.</p>',
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'content' => '<p><strong>National University Hospital (NUH)</strong>, the main teaching hospital of the country’s top-ranking National University of Singapore, announced this month the opening of a center focused on providing trauma care to vulnerable groups, particularly children, older adults, and migrant workers.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-12-SG-NU-Hospital.jpg" alt="" />
<figcaption class="image-caption">Key representatives of NUH during the launch of the National University Centre for Trauma (Photo source: Singapore's National University Hospital)</figcaption>
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<p>According to the NUH, the center will use a code system to reduce the time between admission to the emergency department and the transfer to an operating theatre. Code Trauma involves the mobilization of all essential staff, including emergency physicians, nurses, surgeons, and anesthesiologists, to accelerate decision-making and response for patients with polytrauma or multiple injuries.</p>
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<p>Today, NUH has over 1,200 beds and serves more than 1 million patients a year with over 50 medical, surgical, and dental specialties. NUH is the only public and not-for-profit hospital in Singapore that provides care for adults, women and children under one roof, including the country’s only pediatric kidney and liver transplant program.</p>',
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'content' => '<p>A key element in Cambodia’s five-pronged long-term development plan is the strengthening of the country’s digital economy by expanding connectivity, broadening digital payment systems, and facilitating last-mile logistics services, among other steps.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-6-CAMB-Startups.jpg" alt="" />
<figcaption class="image-caption">Home to around 600 tech startups, Cambodia is quickly becoming a popular destination for startup investments.</figcaption>
</figure>
<p>Internet penetration among the youth, who make up most of the population, is robust at 85%, creating a wealth of opportunities for digital products and services.</p>
<p>The present situation has given startups an advantage over traditional businesses in terms of scalability, efficiency, and quick adaptability to shifting market trends. By embracing digital transformation from the outset, new organizations can streamline workflows by automating tasks, strategizing supply chain effectively, and developing new growth models.</p>
<p>Startups often worry about the cost of new embracing technologies. But, the beauty of digital transformation is that it doesn’t have to be expensive.</p>
<p>Here are three ways startups in emerging markets can adapt digital transformation without breaking the bank:</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Innovate with your target consumer from the get-go</strong></span></p>
<p> </p>
<p>Invite possible users of your solution to collaborate during the strategy’s conception, evaluation, and development stages. Known as “co-creation,” the process involves using customer input throughout the product development cycle. The best innovations respond to customers’ needs identified through this collaborative process. By doing this, startups avoid the temptation of creating solutions simply because they are popular.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Design a scalable and adaptable business model</strong></span></p>
<p> </p>
<p>Startups should continually evaluate if their business model is scalable and adaptable to sudden changes in the market. Workflows should be optimized for unexpected increases in demand, and reliance on manual resources should be minimized in case of supply issues.</p>
<p>Organizations must consider their ability to respond quickly to external opportunities and threats. An integral part of digital transformation is using technology to innovate business models and be ready for any changes.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Empower your team with the tech they need, not the tech you want</strong></span></p>
<p> </p>
<p>Simply adopting the latest technology for the sake of having it is not digital transformation. Does your team need an AI-powered CRM? Will installing an automated time-tracking software help with their productivity?</p>
<p>Startup founders need to think about the problems their teams face before introducing any new technology. Doing so will foster a culture where creativity, trust, and collaboration are welcomed. Start by assessing their challenges and pain points to identify areas for innovation.</p>',
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<p>The two-day event will feature discussions between <strong>William LaPlante</strong>, U.S. undersecretary of Defense for Acquisition and Sustainment, and <strong>Masaki Fukasawa</strong>, Commissioner of Japan’s Acquisition, Technology and Logistics Agency, on how to increase the current co-production capacity of Patriot surface-to-air-missiles and future co-development of common jet trainers.</p>
<p>Currently, Japan’s Mitsubishi Heavy Industries has a licensing agreement with U.S. defense contractor Raytheon to manufacture Patriot missiles. Following the amendment of its defense export guidelines last December, Tokyo is also working on replenishing U.S. stockpiles of these missiles.</p>
<p>On the second day, both sides will launch the Ship Repair Council, a meeting focused on the short-term maintenance of U.S. Navy ships located in Japanese shipyards. Post-Cold War, Japan became a crucial hub for maintaining U.S. Navy ships because many American shipyards had closed and the remaining ones faced huge backlogs in repairs.</p>
<p>Integrating industrial bases with Japan is particularly important for the United States because of supply shortages stemming from its financial and weapon commitments in the Ukraine-Russia war and the recent conflict between Israel and Hamas.</p>
<p>The DICAS meeting is expected to result in an increase in missile production by Japan to support U.S. commitments.</p>',
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'id' => '545719',
'title' => 'How a Cambodian firm has made ESG a competitive advantage ',
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'description' => 'Promoting ESG investments can be more than just selecting projects with existing environmental and social goals. This is especially true in emerging markets, where understanding of ESG compliance can be limited for local businesses. ',
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'content' => '<p>Promoting ESG investments can be more than just selecting projects with existing environmental and social goals. This is especially true in emerging markets, where understanding of ESG compliance can be limited for local businesses.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-7-CAMB-IDI-and-IDI-Capital-Chairman-Hor-SereyVath.jpg" alt="" />
<figcaption class="image-caption">IDI and ID Capital PLC Chairman Hor SereyVath</figcaption>
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<p>In Cambodia, an organization has elevated ESG standards so that they create a powerful double win: greater social and economic impact and increased attractiveness to foreign investors.</p>
<p><strong>ID Capital</strong>, a part of Cambodia’s Innovation and Development Investors Association (IDI), exemplifies this approach. It fosters an entrepreneurship ecosystem by nurturing projects contributing to regional economic development and empowering local businesses.</p>
<p>“We founded IDI during COVID to support local businesses and individuals impacted by the pandemic. As investors and businesspeople, we felt responsible to back businesses with strong community impact potential,” <strong>IDI and ID Capital PLC Chairman Hor SereyVath </strong>told GMI POST.</p>
<p> </p>
<p><span style="font-size: 18pt;"><strong><span style="font-family: helvetica;">Beyond funding: Building ESG-ready businesses</span> </strong></span></p>
<p> </p>
<p>Since its founding, ID Capital has supported over 90 projects in diverse sectors, like agriculture, education, finance, healthcare, and real estate, contributing to Cambodia’s major investment markets. What sets ID Capital apart is its focus on partnership, not just investment. </p>
<p>“Many homegrown Cambodian businesses lack an international perspective. This limits their potential and makes them less attractive to foreign investors. ID capital steps in as a partner, providing expertise in managing capital and achieving ESG compliance, which is a key factor for attracting overseas investors,” SereyVath said.</p>
<p><strong> </strong></p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Building trust with transparency</strong></span></p>
<p> </p>
<p>ID Capital’s commitment extends beyond its projects. It advocates for responsible investment from its partners, primarily foreign investors, ensuring their funds go towards impactful ventures. To achieve this, they tackle ‘information asymmetry’.</p>
<p>“Many foreign investors have limited or biased information about Cambodia’s investment landscape. We bridge the gap by conducting due diligence and providing consolidated information. This builds trust with our partners, setting us apart in the market.” ServeyVeth said.</p>
<p>By building bridges and fostering responsible investment, ID Capital has proven that ESG is a win-win for both businesses and investors.</p>',
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'title' => 'Enveritas: Pioneering sustainable practices in coffee and cocoa farming',
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'description' => 'A trailblazer in sustainability assurance, Enveritas is transforming the coffee and cocoa sectors by providing comprehensive insights into the social, economic, and environmental practices of smallholder farms. ',
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'content' => '<p>A trailblazer in sustainability assurance, <strong>Enveritas </strong>is transforming the coffee and cocoa sectors by providing comprehensive insights into the social, economic, and environmental practices of smallholder farms.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-7-NYNJ-Enveritas-CEO-David-Browning.jpg" alt="" />
<figcaption class="image-caption">Enveritas CEO David Browning</figcaption>
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<p>Each year, Enveritas visits over 100,000 farms across more than 30 countries in Asia, Africa, and Latin America, allowing them to capture a detailed picture of the conditions and challenges faced by farmers around the world.</p>
<p>The organization collaborates with leading coffee roasters and chocolate companies, assessing and understanding the sustainability issues within their supply chains based on Enveritas' rigorous standards. Notably, the companies shoulder the costs of these assessments and not the farmers. This inclusive approach enables small farmers to access sustainability-based export markets, from which they might otherwise be excluded.</p>
<p>Enveritas awards a responsible sourcing claim to companies that meet three critical steps: verification of purchases and traceability; annual sustainability assessments of sourcing areas; and continuous improvement investments proportional to the company’s purchases.</p>
<p>“Around 2016, we were able to unlock new abilities to help understand what was happening on the ground and help farmers with satellite imagery. That was coupled with the evolution of deep learning,” he said. <strong>Enveritas CEO David Browning </strong>told GMI POST.</p>
<p>According to the CEO, the new technology has enabled local producers to increase production at far lower cost and far higher quality, while observing sustainability practices.</p>
<p>“This is how we re-engineered sustainability assurance and truly leverage technology to help farmers on the ground,” Browning said.</p>
<p>"Our goal is to eliminate poverty in the coffee sector by 2030. There's about 12.5 million coffee farmers in the world and about half of those farms have an income below the poverty line,” he added.<br /><br />Enveritas helps these farmers by providing tech support that improves their productivity and training them on basic regenerative agricultural practices, like mulching and pruning.</p>',
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'description' => 'During the 2nd China-Singapore Green Finance Taskforce meeting last month, the Monetary Authority of Singapore (MAS) and People's Bank of China (PBC) discussed initiatives to advance cooperation in green and transition finance between their two countries.',
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'content' => '<p>During the 2nd China-Singapore Green Finance Taskforce meeting last month, the <strong>Monetary Authority of Singapore (MAS)</strong> and <strong>People’s Bank of China (PBC)</strong> discussed initiatives to advance cooperation in green and transition finance between their two countries.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-7-SG-Monetary-Authority-Gillian-Tan-Chief-Sustainability-Officer.jpg" alt="" />
<figcaption class="image-caption">Monetary Authority of Singapore Chief Sustainability Office Gillian Tan</figcaption>
</figure>
<p>The initiatives discussed covered the alignment of taxonomies, facilitation of green finance flows, and the development of a decarbonization rating platform.</p>
<p>The two sides also discussed emerging areas of interest, including nature and biodiversity, ESG data model interoperability, and the use of AI and advanced data analytics to facilitate the collection, access and optimization of high-quality ESG data to drive green efforts.</p>
<p>According to a statement to local media, <strong>MAS Chief Sustainability Office Gillian Tan, </strong>who co-chairs the task force with China Green Finance Committee Chair Dr. Jun Ma, said: “The GFTF is a key platform for China and Singapore to jointly develop concrete and meaningful initiatives to advance green finance cooperation.”</p>
<p>“The wide range of deliverables announced today is a testament to the strong collaboration between MAS, PBC, and industry partners from both countries and our shared ambition to mobilize the financing required for an effective transition to net zero in the region,” Tan added.</p>',
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'id' => '545716',
'title' => 'Texan judge heads economic delegation to Japan ',
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'description' => 'Bexar County Judge Peter Sakai led a five-day working visit to Japan last month to meet with companies that could relocate their businesses or expand their operations into the San Antonio region.
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'content' => '<p><strong>Bexar County Judge Peter Sakai </strong>led a five-day working visit to Japan last month to meet with companies that could relocate their businesses or expand their operations into the San Antonio region.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-7-TX-Bexar-County.jpg" alt="" />
<figcaption class="image-caption">Bexar County Judge Peter Sakai (Photo source: The San Antonio Report)</figcaption>
</figure>
<p>“We have a couple of Japanese businesses that are proposing to come in immediately, so I will pay them a visit,” Sakai told the local San Antonio Report before leaving the United States.</p>
<p>Japanese companies, according to data from <strong>Texas Economic Development</strong> reported 119 investment projects, $6.9 billion in capital investment, and 19,620 new jobs created by 96 companies over the last decade.</p>
<p>Bexar County, the largest county in San Antonio, is home to over 1,700 Japanese and Japanese-American citizens and more than 12 Japanese multinational corporations.</p>
<p>“There’s a lot of discussion, and perhaps diverse opinions, as to the effectiveness of our current workforce. One of the reasons I want to go to Japan is to make sure they feel that the skill set of the labor that they’re getting satisfies their needs,” Sakai said.</p>
<p>Sakai became the first Asian American executive of Bexar County in January 2023. A second-generation Japanese American, he is the grandson of farmers who left Japan to build new lives in the United States.</p>',
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'title' => 'Google forms solar energy partnerships for its Japan data centers',
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'description' => 'Google has partnered with two Japanese renewable energy providers, Clean Energy Connect (CEC) and Shizen Energy, to build dedicated solar farms for its data centers in the country. The power purchase agreements with the two companies mark Google's first such collaboration in Japan. ',
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'content' => '<p><strong>Google</strong> has partnered with two Japanese renewable energy providers, Clean Energy Connect (CEC) and Shizen Energy, to build dedicated solar farms for its data centers in the country. The power purchase agreements with the two companies mark Google’s first such collaborations in Japan.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-7-Google-Solar-Energy.jpg" alt="" />
<figcaption class="image-caption">Google Japan Vice President Shinji Okuyama (Photo source: Nikkei Global Management Forum</figcaption>
</figure>
<p>“The PPAs will add a total of 60 megawatts of new solar energy capacity to the Japanese grid, which will not only support Google’s data centers in the region but also align with Japan’s clean energy ambitions,” said <strong>Google Japan Vice President Shinji Okuyama.</strong></p>
<p>The agreement with CEC, a partner of Itochu Corporation and Kansai Electric Power, involves a $63.9 million (10 billion Japanese yen) investment to build a network of 800 small-scale solar plants across multiple grid regions in Japan by 2026.</p>
<p>This decentralized approach addresses the challenges of large-scale solar projects in the country with a limited availability of land.</p>
<p>Meanwhile, Shizen Energy will develop a 20-megawatt solar project to support Google’s latest data center in Inzai City, Chiba prefecture. The project is expected to be fully operational in 2027.</p>
<p>Stating the initiative was “just the beginning of Google’s decarbonization efforts in the region,” the tech giant is committed to investing around $690 million (about 100 billion Japanese yen) into expanding its sustainable infrastructure in Japan. While renewable energy accounts for 90% of Google’s power consumption in the United States, Denmark, and Finland, it only provides 16% of its Japanese operations.</p>
<p>The PPAs are expected to last between 15 to 20 years, allowing Google to estimate the accurate cost of scaling its renewable energy projects to support upcoming data centers in Hiroshima and Wakayama prefectures.</p>
<p>Google’s decarbonization efforts in Japan will be marked by ‘non-fossil certificates,’ validating the source of the energy used by its data centers. The first certificate will be used by Google’s facility in Chiba Prefecture, Tokyo.</p>',
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'title' => 'U.S. group to acquire KFC Japan for $835 million',
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'description' => 'U.S. private equity group Carlyle Group Inc. has announced its intention to take over KFC Holdings Japan, the operator of KFC restaurants in the country, for around $835 million (130 billion Japanese yen).',
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'content' => '<p>U.S. private equity group <strong>Carlyle Group Inc.</strong> has announced its intention to take over KFC Holdings Japan, the operator of KFC restaurants in the country, for around $835 million (130 billion Japanese yen).</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-7-Carlyle-KFC.jpg" alt="" />
<figcaption class="image-caption">KFC is part of a popular tradition among Japanese during Christmas. (Photo source: CNN)</figcaption>
</figure>
<p>Carlyle will initiate a tender offer for the Tokyo-listed company at 6,500 Japanese yen per share, representing roughly a 20% premium over the stock’s most recent closing price of 5,400 yen. If successful, the acquisition will mark the exit of Mitsubishi Corp., which is backed by Berkshire Hathaway and currently holds a 35% stake in KFC Japan.</p>
<p>KFC Japan has expressed its support for Carlyle's offer, which first appeared in the national business paper Nikkei in April. The tender period will run until July 9 and Carlyle is set to acquire Mitsubishi's stake as soon as September in a transaction estimated to reach $257.6 million (40 billion Japanese yen).</p>
<p>Carlyle’s goal is to broaden KFC Japan's menu by introducing more lunch and afternoon items.</p>
<p>For the fiscal year ending March 2024, KFC Japan reported an 11% increase in group sales to $712.3 million (110.6 billion Japanese yen) and a 62% surge in operating profit to $37.4 million (5.8 billion Japanese yen).</p>
<p>Mitsubishi introduced KFC to Japan in 1970 as a joint venture with the U.S. chain. In 2007, it increased its stake to more 60%, thus becoming the parent company, before reducing its holdings in 2015 as part of its plan to improve capital efficiency.</p>
<p>Carlyle has a notable history in the restaurant sector in Asia. It manages the McDonald's and Dunkin' Donuts chains located in China. In Japan, it took pub style <em>izakaya</em> operator Chimney private and relisted it in 2012.</p>',
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'title' => '3 tips for startup founders in emerging markets',
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'description' => 'A key element in Cambodia's five-pronged long-term development plan is the strengthening of the country's digital economy by expanding connectivity, broadening digital payment systems, and facilitating last-mile logistics services, among other steps. ',
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'content' => '<p>A key element in Cambodia’s five-pronged long-term development plan is the strengthening of the country’s digital economy by expanding connectivity, broadening digital payment systems, and facilitating last-mile logistics services, among other steps.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-6-CAMB-Startups.jpg" alt="" />
<figcaption class="image-caption">Home to around 600 tech startups, Cambodia is quickly becoming a popular destination for startup investments.</figcaption>
</figure>
<p>Internet penetration among the youth, who make up most of the population, is robust at 85%, creating a wealth of opportunities for digital products and services.</p>
<p>The present situation has given startups an advantage over traditional businesses in terms of scalability, efficiency, and quick adaptability to shifting market trends. By embracing digital transformation from the outset, new organizations can streamline workflows by automating tasks, strategizing supply chain effectively, and developing new growth models.</p>
<p>Startups often worry about the cost of new embracing technologies. But, the beauty of digital transformation is that it doesn’t have to be expensive.</p>
<p>Here are three ways startups in emerging markets can adapt digital transformation without breaking the bank:</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Innovate with your target consumer from the get-go</strong></span></p>
<p> </p>
<p>Invite possible users of your solution to collaborate during the strategy’s conception, evaluation, and development stages. Known as “co-creation,” the process involves using customer input throughout the product development cycle. The best innovations respond to customers’ needs identified through this collaborative process. By doing this, startups avoid the temptation of creating solutions simply because they are popular.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Design a scalable and adaptable business model</strong></span></p>
<p> </p>
<p>Startups should continually evaluate if their business model is scalable and adaptable to sudden changes in the market. Workflows should be optimized for unexpected increases in demand, and reliance on manual resources should be minimized in case of supply issues.</p>
<p>Organizations must consider their ability to respond quickly to external opportunities and threats. An integral part of digital transformation is using technology to innovate business models and be ready for any changes.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Empower your team with the tech they need, not the tech you want</strong></span></p>
<p> </p>
<p>Simply adopting the latest technology for the sake of having it is not digital transformation. Does your team need an AI-powered CRM? Will installing an automated time-tracking software help with their productivity?</p>
<p>Startup founders need to think about the problems their teams face before introducing any new technology. Doing so will foster a culture where creativity, trust, and collaboration are welcomed. Start by assessing their challenges and pain points to identify areas for innovation.</p>',
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'id' => '545714',
'title' => 'Breeding unicorns: A look into Singapore's thriving startup scene',
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'description' => 'Dubbed the "Silicon Valley of Asia", Singapore has developed a startup ecosystem that has outshined its Southeast Asian neighbors, closing last year with a total deal volume of $6.1 billion. Of the world's top 100 tech firms, 80 have selected the Lion City as their home.',
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'content' => '<p>Dubbed the “Silicon Valley of Asia”, Singapore has developed a startup ecosystem that has outshined its Southeast Asian neighbors, closing last year with a total deal volume of $6.1 billion. Of the world’s top 100 tech firms, 80 have selected the Lion City as their home.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-6-SG-Unicorns.jpg" alt="" />
<figcaption class="image-caption">Singapore proves to be an attractive hub for high-quality startups.</figcaption>
</figure>
<p>Singapore’s startup success is built on the government’s robust support and its global reputation for efficient governance, strict rule of law, highly-skilled labor, and top-quality educational system.</p>
<p>According to the Economic Development Board of Singapore, the city-state’s startup ecosystem ranked 17th globally and 5th in Asia in terms of value, growing to an impressive $22.5 billion as compared to the global average of $13.68 billion.</p>
<p>Development Asia, a platform run by the Asian Development Bank, identified the following elements behind Singapore’s vibrant entrepreneurial ecosystem: (1) startup financing, (2) sound regulatory and legal environment, (3) low corporate tax rates, (4) mentorship and network opportunities, and (5) innovative public policy.</p>
<p>Singapore’s effective private and public sector framework has supported not only venture capitalists and tech startups, but also its manufacturing industry.</p>
<p>Among those who have benefitted from Singapore’s innovation-driven development are SP Manufacturing and CAM Resources, which have developed state-of-the-art equipment and solutions to meet the demands of startups.</p>',
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'id' => '545715',
'title' => 'This NY-based tech startup can give renters their dream home',
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'description' => 'Named one of Forbes' 30-Under-30 in 2015, American entrepreneur and investor Ankur Jain established his global reputation as a co-founder of Humin, an app that was later acquired by Tinder. Today, the 32-year-old oversees Bilt Rewards, the first-ever loyalty program that awards points to users for their rental payments and neighborhood spending.',
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'url' => 'this-ny-based-tech-startup-can-give-renters-their-dream-home',
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'content' => '<p>Named one of Forbes’ 30-Under-30 in 2015, American entrepreneur and investor <strong>Ankur Jain</strong> established his global reputation as a co-founder of Humin, an app that was later acquired by Tinder. Today, the 32-year-old oversees <strong>Bilt Rewards</strong>, the first-ever loyalty program that awards points to users for their rental payments and neighborhood spending.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-6-NYNJ-Bilt-Rewards-Ankur-Jain-Founder-and-CEO.jpg" alt="" />
<figcaption class="image-caption">Bilt Rewards Founder and CEO Ankur Jain</figcaption>
</figure>
<p>Seeing the financial challenges of renters living in New York, Jain wanted to create a pathway for them to eventually become homeowners.</p>
<p>“The idea that you rent for many years but get no closer to homeownership made no sense,” the Bilt Rewards founder and CEO told INC. magazine.</p>
<p>Launched in June 2021, Bilt Rewards boasts one of the highest-value rewards programs in the market today, offering one-to-one point transfers across more than 100 major airline and hotel partners. The program also includes fitness studios and exclusive, limited-edition artworks and home decor through the Bilt Collection. Earned points can be used towards rental payments or a downpayment on a future home .</p>
<p>Bilt partnered with Mastercard and Wells Fargo to create the Bilt Mastercard, the first and only credit card that can be used to pay rent with no fees charged.</p>
<p>“In 2022, we announced a valuation of $1.5 billion following a $150 million growth round to advance our loyalty program and credit card for renters,” he said.</p>
<p>Reflecting on his professional history, Jain advises fellow entrepreneurs to persist through setbacks, citing Bilt's success in securing partnerships with major landlord groups like AvalonBay Communities and Related Companies.</p>
<p>“We've created something that benefits everyone involved. It's about turning everyday transactions into meaningful opportunities for financial growth and stability,” said Jain, who is focused on expanding Bilt’s coverage and further empowering renters across the United States.</p>',
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'description' => 'Forming part of the Dallas-Fort Worth metro area, the Frisco Economic Development Corp. (Frisco EDC) has announced a pilot investment program to support the redevelopment of the city's historic Rail District in the downtown area. The program will reimburse 50% of the approved costs of qualified projects upon their completion. ',
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'content' => '<p>Forming part of the Dallas-Fort Worth metro area, the <strong>Frisco Economic Development Corp.</strong> <strong>(Frisco EDC)</strong> has announced a pilot investment program to support the redevelopment of the city’s historic Rail District in the downtown area. The program will reimburse 50% of the approved costs of qualified projects upon their completion.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-6-Frisco-TX.jpg" alt="" />
<figcaption class="image-caption">Frisco has launched an ambitious program to generate its historic downtown area.</figcaption>
</figure>
<p>To qualify for this incentive, projects must be Type-A improvement projects within Frisco’s Rail District and focus on the improvement and beautification of the area, such as streetscapes, interior infrastructure, sprinkler systems, roofing, flooring, HVAC systems, and facade enhancements (i.e. canopies, signage, and awnings).</p>
<p>This initiative aims to assist local businesses and property owners, as well as complement Frisco EDC’s ongoing investments to enhance the city’s tourism and commercial value.</p>
<p>To date, the Frisco EDC board has earmarked $3.9 million for the first phase of the project due to begin in August. The initial round of improvements will involve burying overhead electrical lines, carrying out flatwork infrastructure, and installing grease traps and trash compactor systems around the city.</p>
<p>“We are proud to launch an initiative that supports local businesses and advances the city’s priority to attract both the daytime and nighttime economy,” said <strong>Frisco EDC Chair Jason Dudle</strong>.</p>
<p>Meanwhile, <strong>Mayor Jeff Cheney</strong> stressed the program’s importance in attracting more visitors.</p>
<p>“Frisco EDC’s program directly supports our city council’s goal to revitalize downtown Frisco. With more than $68 million approved by voters for redevelopment projects, we are poised to make Frisco a strong tourism destination,” he said.</p>
<p>According to <strong>Frisco EDC Vice President Gloria Salinas</strong>, the city was named one of the most resilient cities in the United States. Salinas told GMI POST in an interview that the region’s diverse industry base, pro-innovation administration, and forward-thinking policies were key factors in making Frisco very attractive to families and corporations alike.</p>',
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'title' => 'Japanese insurance giant acquires large stake in U.S. rival',
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'description' => 'Nippon Life Insurance has agreed to buy a 20% stake in Texas-based life insurance provider Corebridge Financial for more than $3.8 billion, representing its full-fledged entry into the American market amid declining demand in Japan. ',
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'content' => '<p><strong>Nippon Life Insurance</strong> has agreed to buy a 20% stake in Texas-based life insurance provider Corebridge Financial for more than $3.8 billion, representing its full-fledged entry into the American market amid declining demand in Japan.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-6-Nippon-Life-Managing-Executive-Officer-Minoru-Kimura.jpg" alt="" />
<figcaption class="image-caption">Nippon Life Insurance Managing Executive Officer Minoru Kimura</figcaption>
</figure>
<p>The move is the largest acquisition made by a Japanese insurer, according to Nikkei Asia.</p>
<p>Nippon Life expects its core operating profit to increase by $580 million annually because of this investment. At present, Corebridge Financial ranks third in the annuities market.</p>
<p>“We need to pursue further growth overseas. There are still many opportunities,” <strong>Nippon Life Insurance Managing Executive Officer Minoru Kimura</strong> told the media. <br />Kimura also said Nippon Life will look for more potential acquisitions in Europe and across Asia-Pacific, adding there were fewer opportunities in those regions than in the US.</p>
<p>In 2016, Nippon Life bought National Australia Bank Ltd.’s life insurance unit for around $1.5 billion. However, the Japanese company was forced to make multiple capital infusions to support the unit after suffering losses following the acquisition.</p>
<p>Kimura added that securing qualified personnel will be Nippon Life’s new challenge as it pursues overseas expansion.</p>
<p>“We are a very domestic company. We will boost human resources necessary for global businesses, like by hiring outside talent, including non-Japanese people,” he said.</p>',
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'description' => 'Tenstorrent CEO Jim Keller, who worked for Intel, AMD and Tesla, said in an interview with Nikkei Asia that he wants to lower the price of AI applications by designing chips that are more efficient than Nvidia's and, in the process, end the American giant's global market dominance.',
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'content' => '<p><strong>Tenstorrent CEO Jim Keller</strong>, who worked for Intel, AMD and Tesla, said in an interview with Nikkei Asia that he wants to lower the price of AI applications by designing chips that are more efficient than Nvidia's and, in the process, end the American giant’s global market dominance.</p>
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<figcaption class="image-caption">Tenstorrent CEO Jim Keller (Photo source: Tenstorrent)</figcaption>
</figure>
<p>Headquartered in Toronto, Tenstorrent has offices in Austin, Texas and Santa Clara, California, as well as in Belgrade, Tokyo, Bangalore, and Seoul. The company claims to be developing AI processors that perform as efficiently as Nvidia's AI GPUs but at a lower cost.</p>
<p>At present, Nvidia is the global market leader when it comes to AI chips. Its AI accelerators command between 70% and 95% of the global market share, according to CNBC.</p>
<p>Keller also said in the interview that Tenstorrent hopes to sell its second-generation multipurpose AI chip by the end of this year.</p>
<p>According to Keller, Tenstorrent can achieve its objective because it does not use high-bandwidth memory (HBM), a popular type of advanced memory chip capable of transferring large amounts of data quickly. HBM is a vital component for generative AI chips and has played a significant role in the success of Nvidia's offerings.</p>
<p>But Keller pointed out that HBM was also one of the culprits behind the massive energy consumption and high prices of AI chips.</p>
<p>"Even the people that use HBM struggle with the cost of it, [and] the design time to build it,” he said.</p>
<p>By doing away with HBM, Tenstorrent will design a chip that can replace both GPUs and HBMs in some areas of AI development, adding that its new product will be "as cost-effective as possible".</p>',
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'content' => '<p>Tokyo-based trading giant <strong>ITOCHU</strong> secured a contract to develop and test AI systems that will help run the transportation network and energy infrastructure of a future smart city project in southern Taiwan, according to a company press release.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-13-ITOCHU-Taiwan.jpg" alt="" />
<figcaption class="image-caption">ITOCHU plans to roll out AI-powered buses for Taiwan's new smart city project in Tainan. (Photo source: Nikkei Asia)</figcaption>
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<p>ITOCHU outbid other parties interested in the Integrated Development Project for Shalun Smart Green Energy Science City located in Tainan. The early-stage contract, according to Nikkei Asia, is worth around $332,000 (10.8 million New Taiwan dollars).</p>
<p>According to ITOCHU, the goal is to test its AI systems on a trial basis by the end of October. This is the first time the trading house has officially participated in an overseas smart city project.</p>
<p>The Taiwanese government also announced plans to earmark an additional $306.9 million (or 10 billion NTD) to develop the country’s artificial intelligence (AI) industry. In line with this goal, ITOCHU will collaborate with various Taiwanese partners, including IT company Accton Technology and National Cheng Kung University.</p>
<p>Home to the world's largest semiconductor maker, Taiwan Semiconductor Manufacturing Company (TSMC), Taiwan has a global market share of 61.7%. CNN estimates that TSMC produces 90% of the world's super-advanced semiconductor chips, which are used to power everything from smartphones to artificial intelligence applications.</p>',
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'content' => '<p>Belgium-based supplier of semiconductor solutions <strong>Melexis</strong> has opened its largest wafer testing site worldwide in Kuching in the Malaysian state of Sarawak to strengthen its presence in Asia-Pacific and meet the rising demand for semiconductors around the world, according to a company announcement.</p>
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<figcaption class="image-caption">Melexis' new 70 million-euro facility in Kuching is a nod to the local architectural design. (Photo source: Melexis)</figcaption>
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<p>Wafer testing is part of the manufacturing process wherein all individual integrated circuits are checked for functional defects through special test patterns.</p>
<p>According to Melexis, its expansion in Malaysia is a strategic move to streamline logistics and reduce its ecological footprint. Additionally, it selected Kuching because of its diverse, multilingual, entrepreneurial and highly skilled workforce.</p>
<p><strong>Melexis CEO Marc Biron </strong>said, “With an investment of 70 million euros, this opening underscores the ambition of Melexis and will ensure future growth. With Melexis, we are at the forefront of innovation, and this opening will support us in the markets that we serve.”</p>
<p>The new four-storey building, a collaboration of award-winning Belgian architect Sebastian Mortelmans and local architectural firm DNA, covers a ground surface of 4,500 sq. m., making it the company’s largest wafer testing site worldwide. The modern design evokes local longhouse architecture, incorporates advanced energy-saving systems, like a solar installation that can generate 30.000 kWh per month, and minimizes its environmental impact.</p>
<p>“Melexis has made the right choice to invest in Sarawak. With political stability, Sarawak is business-friendly and welcomes investments that can create mutual benefits. The Sarawak government has always been very supportive of investors both foreign and domestic. It is among the most preferred destinations for investment in Malaysia,” <strong>Sarawak’s Ministry of International Trade, Industry and Investment </strong>said in a statement<strong>.</strong></p>
<p>“Sarawak possesses many comparative advantages for businesses to grow and prosper such as strategic location, availability of green energy, talented workforce, and suitable land for industrial activities,” the statement also said.</p>',
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'content' => '<p>Japanese trading giant <strong>ITOCHU</strong> announced this month it had invested in <strong>ZeroAvia</strong>, a British-American maker of hydrogen-electric engines for aircraft, according to a company statement.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-13-Itochu-ZeroAvia.jpg" alt="" />
<figcaption class="image-caption">An aircraft powered by ZeroAvia's hydrogen-electric engines (Photo source: ZeroAvia)</figcaption>
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<p>Founded in 2018, ZeroAvia describes itself as “a team of passionate innovators dedicated to bringing safe, zero-emission flight to aviation.” The company claims its hydrogen-electric propulsion systems are “the most environmentally friendly and economically attractive solution to aviation’s growing climate change impact.”</p>
<p>According to ZeroAvia, its hydrogen-electric engines cut more than 90% of harmful emissions, lower operating costs by more than 40%, improve air quality and reduce noise pollution in airport communities.</p>
<p>Under the deal, ITOCHU will serve as ZeroAvia's distributor in Asia, marking its first investment in a developer of hydrogen engines for aircraft and a further expansion into the aviation industry. ITOCHU is part of Japan Aerospace, which is involved in aircraft sales, and of JAMCO, which manufactures materials for aircraft interiors.</p>
<p>According to ITOCHU, this recent investment is part of the company’s long-term goal of helping save the planet by decarbonizing the aviation industry.</p>',
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'content' => '<p>For the third time in the last five years,<strong> Virginia</strong> was ranked America’s Top State for Business in 2024 by CNBC, which cited the state for having the best public schools in the country. It grabbed the top spot in 2007, 2009, 2011, 2019, and 2021.</p>
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<figcaption class="image-caption">Fairfax County Economic Development Authority President and CEO Victor Hoskins (Photo source: Fairfax County Economic Development Authority)</figcaption>
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<p>“Congratulations to Virginia on being named America’s Top State for Business in 2024 by CNBC, a record six times achieving that designation. I know that Virginia succeeds because of our shared belief that collaboration and innovation yield great results for our businesses and their employees,” said <strong>Fairfax County Economic Development Authority President and CEO Victor Hoskins</strong>.</p>
<p>Virginia ranks in the top half or better in each of the study’s 10 categories this year, “a rare feat,” noted CNBC. The state landed in the top 10 in four additional categories: infrastructure (3rd), business friendliness (5th), access to capital (8th) and workforce (9th).</p>
<p>For the first time, CNBC counted infrastructure (including the availability of shovel-ready sites) as the most important component for businesses when deciding on investment and cited the Virginia Business Ready Sites Program, as well as its world-class port, rail, roadway, and air transportation ecosystem as major contributors to the recognition.</p>
<p>CNBC’s annual ranking measures all 50 states on 128 different metrics in 10 key categories of competitiveness. North Carolina ranked second on the list, followed by Texas, Georgia and Florida.</p>
<p>Regarding Virginia’s economic relations with Japan, over $32.5 billion in capital investment has been made by Japanese companies in the last 5 years, according to the Virginia Economic Development Partnership, which also reports that Japanese companies employ more than 15,2000 people in the state.</p>',
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<figcaption class="image-caption">Michigan Gov. Gretchen Whitmer (center) with senior officers of FANUC America at its West Campus. (Photo source: FANUC America)</figcaption>
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<p>The new 650,000-square-foot facility was inaugurated on July 10 and is located in FANUC America’s West Campus in Auburn Hills, Michigan. The expansion increases the company’s footprint in Michigan to over 2 million square feet and is part of FANUC America’s plan to advance industrial automation in North America. The West Campus represents a $110 million investment built on 67 acres of land.</p>
<p>The facility, built on 270,000 square meters, has warehouse space to hold more than 6,000 robots and features automated systems for moving the robots in and out of the building, according to FANUC America.</p>
<p>"Our ongoing upward trajectory allows us to better support our customers with cutting-edge robotic and automation solutions, helping to drive more efficiency across all industries,” <strong>FANUC America CEO Michael Cicco </strong>said at the unveiling ceremony.</p>
<p>The Japanese company said it would have invested $250 million in North America since 2019 once this and other projects in its pipeline are completed. Currently, FANUC America has created over 400 jobs in Michigan.</p>',
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'content' => '<p><strong>K Health</strong>, a leading AI-driven primary care company that provides 24/7 virtual primary care solutions through its mobile app, announced this month that it had raised $50 million in funding led by Claure Group with participation from investors, including Pablo Legorreta (founder and CEO of Royalty Pharma) and Mangrove Capital Partners, Valor Equity Partners, and Atreides Management.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-12-NYNJ-K-Health-Alan-Bloch.jpg" alt="" />
<figcaption class="image-caption">K Health founder and CEO Allon Bloch (Photo source: K Health)</figcaption>
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<p>K Health said in the same statement that it had been developing its own AI technology for more than seven years. Today, it can provide 24/7 virtual primary care solutions to millions of people in the United States.</p>
<p>The K Health platform includes clinical-grade medical chat and AI predictive models based on large datasets to help physicians optimize diagnosis and treatment and focus on patient care.</p>
<p>Instead of doctors taking patients through lengthy procedures and manually piecing together their medical history from electronic medical records, K Health allows healthcare providers to engage more quickly and closely with patients by giving them a complete medical chart with patient insights straight from the app.</p>
<p>According to K Health, this new model of care delivery achieves dramatically higher quality of care at lower costs compared to traditional primary care.</p>
<p>“K Health solves the need to make primary care visits highly personalized by giving doctors AI superpowers that enable them to practice at the top of their license. Our primary care platform offers a concierge medical experience with an assigned provider and 24/7 access to care,” explained<strong> K Health founder and CEO Allon Bloch.</strong></p>
<p>“When partnered with leading health systems, this model creates significant benefits to access, clinical outcomes, and patient experience. All you need to get care is your health insurance, a stark contrast to concierge medicine services that typically cost thousands of dollars,” Bloch added.</p>
<p>Meanwhile, <strong>Claure Group</strong> <strong>Founder and CEO Marcelo Claure </strong>said: As I invest in the AI landscape, I have found it incredibly difficult to discover companies making tangible, real-world progress with AI. K Health is the first company I've seen successfully using AI to impact millions of lives. They are addressing some of healthcare's greatest challenges by providing accessibility to faster, higher-quality, lower-cost care on a large scale."</p>',
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'content' => '<p>Ontario-based multinational <strong>Lee Li Holdings (LLH)</strong> <strong>CEO Lee Q. Shim</strong> told <strong>Cambodian Prime Minister Hun Manet </strong>in a meeting at the capital Phnom Penh this month that his company was looking at investment opportunities in the country, including its automotive healthcare, gas and oil, food processing and logistics, automobiles, and exports accreditation sectors.</p>
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<figcaption class="image-caption">Cambodia Prime Minister Hun Manet (right) met with Lee Li Holdings President and CEO Lee Q. Shim (Ieft) in Phnom Penh this month. (Photo source: Office of the Prime Minister)</figcaption>
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<p>During the meeting, Manet pointed out that the <strong>Cambodia Chamber of Commerce</strong> had two representative offices in Canada (Toronto and Montreal) that promote bilateral trade and assist exporters and importers in their two countries.</p>
<p>“Shim’s visit will further contribute to the promotion of trade relations between Cambodia and Canada,” Manet said.<br /><br />The prime minister also encouraged Shim to pursue discussions with relevant ministries and agencies, such as the Ministry of Health, the Ministry of Mines and Energy, and Ministry of Commerce, adding that his government has supported the private sector by encouraging international investment in the country.</p>
<p>Canada is one of the largest investors in Cambodia and has brought in around $1.1 billion in foreign direct investment as of 2021, Cambodian socio-economic analyst Chey Tech told The Phnom Penh Post in an interview.</p>',
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'content' => '<p><strong>National University Hospital (NUH)</strong>, the main teaching hospital of the country’s top-ranking National University of Singapore, announced this month the opening of a center focused on providing trauma care to vulnerable groups, particularly children, older adults, and migrant workers.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-12-SG-NU-Hospital.jpg" alt="" />
<figcaption class="image-caption">Key representatives of NUH during the launch of the National University Centre for Trauma (Photo source: Singapore's National University Hospital)</figcaption>
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<p>According to the NUH, the center will use a code system to reduce the time between admission to the emergency department and the transfer to an operating theatre. Code Trauma involves the mobilization of all essential staff, including emergency physicians, nurses, surgeons, and anesthesiologists, to accelerate decision-making and response for patients with polytrauma or multiple injuries.</p>
<p>“The National University Centre for Trauma represents decades of efforts in refining our trauma care expertise for our injured patients to return to their lives and achieve their dreams. It also aims to prevent trauma from occurring in the first place with data-driven injury prevention efforts,” said <strong>National University Centre for Trauma Director Raj Menon.</strong></p>
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<p>Today, NUH has over 1,200 beds and serves more than 1 million patients a year with over 50 medical, surgical, and dental specialties. NUH is the only public and not-for-profit hospital in Singapore that provides care for adults, women and children under one roof, including the country’s only pediatric kidney and liver transplant program.</p>',
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'description' => 'A key element in Cambodia's five-pronged long-term development plan is the strengthening of the country's digital economy by expanding connectivity, broadening digital payment systems, and facilitating last-mile logistics services, among other steps. ',
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'content' => '<p>A key element in Cambodia’s five-pronged long-term development plan is the strengthening of the country’s digital economy by expanding connectivity, broadening digital payment systems, and facilitating last-mile logistics services, among other steps.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-6-CAMB-Startups.jpg" alt="" />
<figcaption class="image-caption">Home to around 600 tech startups, Cambodia is quickly becoming a popular destination for startup investments.</figcaption>
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<p>Internet penetration among the youth, who make up most of the population, is robust at 85%, creating a wealth of opportunities for digital products and services.</p>
<p>The present situation has given startups an advantage over traditional businesses in terms of scalability, efficiency, and quick adaptability to shifting market trends. By embracing digital transformation from the outset, new organizations can streamline workflows by automating tasks, strategizing supply chain effectively, and developing new growth models.</p>
<p>Startups often worry about the cost of new embracing technologies. But, the beauty of digital transformation is that it doesn’t have to be expensive.</p>
<p>Here are three ways startups in emerging markets can adapt digital transformation without breaking the bank:</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Innovate with your target consumer from the get-go</strong></span></p>
<p> </p>
<p>Invite possible users of your solution to collaborate during the strategy’s conception, evaluation, and development stages. Known as “co-creation,” the process involves using customer input throughout the product development cycle. The best innovations respond to customers’ needs identified through this collaborative process. By doing this, startups avoid the temptation of creating solutions simply because they are popular.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Design a scalable and adaptable business model</strong></span></p>
<p> </p>
<p>Startups should continually evaluate if their business model is scalable and adaptable to sudden changes in the market. Workflows should be optimized for unexpected increases in demand, and reliance on manual resources should be minimized in case of supply issues.</p>
<p>Organizations must consider their ability to respond quickly to external opportunities and threats. An integral part of digital transformation is using technology to innovate business models and be ready for any changes.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Empower your team with the tech they need, not the tech you want</strong></span></p>
<p> </p>
<p>Simply adopting the latest technology for the sake of having it is not digital transformation. Does your team need an AI-powered CRM? Will installing an automated time-tracking software help with their productivity?</p>
<p>Startup founders need to think about the problems their teams face before introducing any new technology. Doing so will foster a culture where creativity, trust, and collaboration are welcomed. Start by assessing their challenges and pain points to identify areas for innovation.</p>',
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3 tips for startup founders in emerging markets
A key element in Cambodia's five-pronged long-term development plan is the strengthening of the country's digital economy by expanding connectivity...
